WESPAC Advisors LLC Buys 60 Shares of Equinix, Inc. (NASDAQ:EQIX)

WESPAC Advisors LLC raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,083 shares of the financial services provider’s stock after buying an additional 60 shares during the period. WESPAC Advisors LLC’s holdings in Equinix were worth $961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GS Investments Inc. increased its position in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after buying an additional 12 shares during the period. Cypress Capital Group grew its holdings in shares of Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 13 shares during the period. MRA Advisory Group raised its position in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 13 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Finally, Fortitude Family Office LLC boosted its position in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $936.37 on Friday. The firm has a market capitalization of $90.35 billion, a P/E ratio of 84.43, a PEG ratio of 2.38 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. The business has a fifty day moving average of $891.74 and a 200 day moving average of $825.46.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Wall Street Analyst Weigh In

Several equities analysts have commented on EQIX shares. HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Stifel Nicolaus upped their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Insider Transactions at Equinix

In other news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Simon Miller sold 569 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 in the last quarter. Company insiders own 0.27% of the company’s stock.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.